Jubilee acquiring stake in Iskandar project through RTO

JUBILEE Industries Holdings has unveiled a proposed reverse takeover (RTO) deal involving a Malaysian property developer.

The Catalist-listed company said yesterday that it will acquire a 60 per cent stake in a development project in Medini Iskandar which includes a RM180 million (S$70.3 million) profit guarantee from its vendor.

Jubilee, a loss-making plastic injection mould producer formerly known as JLJ Holdings, had been looking to diversify its core business. In August, former Novena Holdings...

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